CPM Brochure - Flipbook - Page 6
6
Budgeting
Your Property Manager will help you determine
your annual Service Charge Budget and continue
to monitor it throughout the year. Analysis of
the component parts of the budget will give a
better idea of where efficiency can be improved
or changes need to be made. The development of
a Planned Maintenance Programme is essential
to understand the long-term costs likely to arise
through the increasing age of the building(s).
You can expect your Property Manager to:
Prepare the annual service charge budget
Analyse potential costs and expenses
Develop reserve and sinking funds
Continually review performance and
analysis of variances
Consider cyclical maintenance fund targets
Reporting
Management Account reports are vital to ensure
that proper management of the property is
undertaken. Understanding the financial
components of the management is key to
delivering effective services. It is a continual
process of monitoring the cash flow and the
budget so that decisions can be based upon
accurate accounting information. We will
produce and issue the following:
Expenditure analysis (how much has been
spent and on what)
Budget vs Actual (is expenditure on target?)
Variances (and why they have arisen)
Debtors (what monies due and from whom)
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